Two-Building Storefront
For Sale
$199,900
Pending
308 SW 6th Avenue, Aberdeen, SD 57401
COMMERCIAL - Aberdeen, SD
Property Size2,300 SF
Lot Size0.18 Acres
Days on Market41
Property Features for 308 SW 6th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Aberdeen - City
Standard status
Pending
Size
2,300 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LT 3 (AND) LT 4 KELLEYS RPL LT 4-5 & 9-11 BK 34 SD 1ST ADD & LT 4-5 & 9- 11 BK 34 2ND ADD
Tax Annual Amount
2300
Legal Description
LT 3 (AND) LT 4 KELLEYS RPL LT 4-5 & 9-11 BK 34 SD 1ST ADD & LT 4-5 & 9- 11 BK 34 2ND ADD
Building Details
Year built
1923
Listing Agency:
Century 21 Northern Advantage
(605) 225-7179
Listed By:
Melanie R Bobby · License #14771
(605) 225-7179
Added: Jul 11
Changed: Aug 18
Last Checked: Aug 20 at 1:06AM
MLS# 25-910
Copyright © 2026 Aberdeen Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail property includes two buildings being conveyed together, with a combined property size of 2,300 square feet. The improvements date to 1923 and are positioned along Sixth Avenue in Aberdeen.
Parking access is located behind the buildings, providing a separate rear approach for vehicles. The property is addressed as 308 and 312 SW 6th Avenue, Aberdeen, SD 57401, in Brown County.
Parking access is located behind the buildings, providing a separate rear approach for vehicles. The property is addressed as 308 and 312 SW 6th Avenue, Aberdeen, SD 57401, in Brown County.
Key Highlights
- Two buildings included in one sale
- 2,300 square feet of property size
- Sixth Avenue frontage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,753
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$355,060
$355.1K
Cap Rate 7%
$253,614
$253.6K
Cap Rate 9%
$197,256
$197.3K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.6K $12.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$25.4K $11.03/SF
− OpEx
−$7.6K −$3.31/SF
NOI
$17.8K $7.72/SF
Area
Brown County, SD
Vacancy
8.11%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$355,060
Cap Rate 7%
$253,614
Cap Rate 9%
$197,256
Alternative Uses
Best Use
Retail
$253.6K
$221.9K – $295.9K
NOI $17,753 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$401.6K
$351.4K – $468.5K
NOI $28,111 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 36%
Home Improvements & Furnishings 5%
Beauty & Spa 2%
Scooter's Coffee
Dining
8,503 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,596 visits/mo
0.2 miles
Wells Fargo Home Mortgage
Shops & Services
3,318 visits/mo
0.2 miles
Mazatlan Mexican Restaurant
Dining
2,814 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
2,581 visits/mo
0.3 miles
Demographics for 57401, SD
32,275
Population
15,016
Households
2.1
Avg Household Size
37
Median Age
35%
College-Educated
93%
High-School Grad
278.8 sq mi
ZIP Area
116
Density / Sq Mi
$68,183
Median Household Income
$40,562
Median Earnings
$787
Median Rent
$216,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Rustic Roots Florals — 224 1st Ave SE #2, Aberdeen, SD 57401
- Annette's Floral Boutique — 122 N Main St, Aberdeen, SD 57401
Frequently Asked Questions
What type of property is this?
Storefront property - Retail property combining two buildings with rear parking access and Sixth Avenue frontage.
Where is this storefront property located?
The property is located at 308 SW 6th Avenue Aberdeen, SD.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two buildings included in one sale; 2,300 square feet of property size; Sixth Avenue frontage
